NEWS FROM REALTOR's COMMERCIAL ALLIANCE shows rising vacancies and slowing activity, but the commercial market is still "active", despite “tight credit availability".
NAR Chief Economist Lawrence Yun said economic weakness is impacting commercial real estate. “Although the supply-demand fundamentals are broadly favorable in most commercial real estate markets, vacancy rates are rising modestly and rent gains are slowing,” he said. “Slow economic growth is lowering demand for commercial space, mostly in the office and industrial sectors. Despite the slowdown, the commercial real estate market is in much better shape compared to conditions during the 2001 recession.” [...more...]
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